Iron River, MI Security Deposit Laws 2026
Michigan limits security deposits to 1.5 month(s) of rent. In Iron River, that's $1,602 at the median 2BR rent of $1,068/month. Miss the 30-day return deadline and you could owe $2,136+.
In Michigan, landlords must return security deposits within 30 days after move-out. The maximum deposit is 1.5 month(s) of rent. Failure to return on time or provide an itemized statement can result in penalties of $2,136 or more.
Key Takeaways — Iron River Security Deposit Laws
- Maximum deposit: 1.5 month(s) of rent = $1,602 at Iron River's median rent
- Return deadline: 30 days after tenant moves out
- Penalty for late return: Up to 2x the deposit ($2,136)
- Itemized statement: Required with any deductions
Security Deposit Laws in Iron River
Under Michigan law, landlords in Iron River may collect a maximum security deposit of 1.5 month(s) of rent. At Iron River's median 2-bedroom rent of $1,068/month, that means the most you can legally collect is $1,602.
$1,602
max deposit (1.5mo × $1,068)
30 days
return deadline
$2,136
max penalty for late return
Returning the Deposit: The 30-Day Clock
Once a tenant moves out of your Iron River rental, Michigan law gives you exactly 30 days to either return the full deposit or provide an itemized statement of deductions. The clock starts on the day the tenant surrenders possession — not when you inspect the unit.
What you can deduct from a security deposit in Iron River:
- Unpaid rent
- Damage beyond normal wear and tear
- Cleaning costs to restore the unit to move-in condition
- Costs for restoring or replacing personal property (if lease allows)
What you cannot deduct:
- Normal wear and tear (minor scuffs, carpet wear, faded paint)
- Pre-existing damage (document with photos at move-in)
- Professional cleaning if the tenant left the unit in reasonable condition
Penalty Warning
Violate Michigan security deposit laws rules in Iron River and you could owe $2,136+. At Iron River's median rent of $1,068/month, even a single violation adds up fast.
Don’t risk it. Let LeaseBase handle the compliance.
LeaseBase automatically tracks deposit amounts, calculates return deadlines, and generates compliant itemized statements — so you never miss a deadline.
Start Free Trial30-day free trial · Cancel anytime
How Iron River Rents Affect Deposit Amounts
Deposit amounts scale with local rents. Here's what Iron River landlords typically collect:
| Unit Size | Median Rent (Iron River) | Max Deposit (1.5mo) | Penalty Risk |
|---|---|---|---|
| Studio | $756/mo | $1,134 | $2,268 |
| 1-Bedroom | $814/mo | $1,221 | $2,442 |
| 2-Bedroom | $1,068/mo | $1,602 | $3,204 |
| 3-Bedroom | $1,281/mo | $1,921 | $3,843 |
Rents based on HUD Fair Market Rents (FY2026) for Iron County.
Calculate Your Limits
Enter your Iron River rent amount to see exact limits and penalty exposure.
Free Calculator →No signup required.
More Iron River Landlord Laws
Security Deposit Laws in Nearby Cities
Own properties in multiple cities? Rules may differ locally:
Never miss a security deposit laws deadline in Iron River
LeaseBase tracks deposit amounts, calculates return deadlines, and generates compliant itemized statements automatically.
30-day free trial · $0 today · Cancel anytime
Not ready to start? Get the free Security Deposit Laws checklist for Michigan landlords.
Download Free ChecklistReviewed by Rachid Abadli
Founder & CEO, LeaseBase · Sacramento landlord · Self-managing since 2019
LeaseBase is a property management platform — not a law firm. Consult an attorney for legal advice specific to your situation.
